Docupace Technologies, a digital compliance and cyber security company, has raised $16.5m from Palisades Growth Capital and TVC Capital.
As part of the funding, which will be used to fuel the company’s long-term growth plans, Paul D’Addario from Palisades Growth Capital and Jeb Spencer from TVC Capital will join Docupace’s board of directors.
Based in Los Angeles, the company is a provider of secure federal and state law compliant electronic processing platforms for financial institutions and the wealth management industry.
Its document management and workflow solutions, which it claims simplify the process of capturing, organising, routing and accessing information, are being used to sustain profitability and audit-risk assurance. Docupace also helps broker-dealers and financial services firms become cyber secure by assessing vulnerabilities, correcting potential gaps, and providing ongoing monitoring.
Spencer said, “We are delighted to have the opportunity to partner with Docupace given their formidable position in their industry, their high level of customer satisfaction and the mission critical nature of their product offering. We are very enthusiastic about the company’s long-term product roadmap and plans to continue to provide innovative solutions.
“Docupace has a history of resilience and innovation. They have supported their customers in the highly-regulated financial services industry in unprecedented ways and we saw a unique opportunity to help fuel their continued success.”
TVC Capital is a San Diego-based growth equity firm focused on software investments and acquisitions, while Palisades Growth Capital is a growth stage technology investment firm based in Los Angeles.
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